Recruitment is an industry that has been constantly growing for many years and there are around 75,000 companies in Europe alone. Companies that hire recruiters seem to encounter the same bugbears time and again (Not cost effective, inefficient, lacking the expertise for the sector, etc) but throughout the Covid-19 crisis there has been a need for a change. Companies are scrutinising whether they really need to hire in an agency to recruit candidates.
There are a few reasons why they don’t make that leap. These include:
The best recruitment agencies do not just send out job ads onto online recruitment platforms, they nurture clients in order to find specific people for the job roles that are opening up. A company doing this on their own would spend so much time and money just getting started. Expert recruiters can even find those prime candidates who are not even on the job market yet.
Resources such as time and money are two major sticking points for another reason. Every internal team still needs to do its day-to-day work and having to keep hiring new recruits for growing teams can seriously eat into other important workloads.
When there is a talent shortage, recruitment must be fast and agile, changing quickly when the challenge changes. Some recruiters excel in this arena and have the experience to adapt to overcome different problems. Especially within a job market like that of Data & AI, the need for recruiters with a specific skillset makes perfect sense.
When a business finds its perfect match in recruitment, that can lead to a mutually beneficial relationship. Internal teams can underperform but must still be paid. A recruitment agency that matches your business in terms of vision and work ethic may cost more but will save the company money in the long-run as they are working solely on recruiting and must deliver results.
The industry seems to be moving away from a ‘finder’s fee’ model as it is not sustainable for many recruiters to chase after one opening with only one of them being victorious and the others working for no pay in the end, which can also lead to desperation and low quality candidate shortlists. The alternative to this is partnerships between companies who need recruitment and recruiters who are in a position to propose such an arrangement. This is especially true of recruiters with real expertise in certain sectors. They have the skills that are worth the money they make and can demand to be recruitment partners with companies in need of their expertise. Things like Exclusivity Clauses, Retainer Fees and payments made at each stage of the process are all common agreements.
The better recruitment agencies are breaking from the over-bloated and slow-moving recruitment companies as they know that they need flexibility in order to move and flow with the changing recruitment industry. With flexible working across the whole job market, this can aide recruiters when they are required to fulfil recruitment for large projects and scale-back for day-to-day operation. Long-term relationships and exclusivity build trust and causes a switch from the transactional to the partnership. These more intimate experiences translate to the search for candidates. These prospects are more likely to research the company online and find reviews from previous employees. Having recruitment experts involved can mitigate negativity from ill-suited workers and boost the confidence of those who are looking to work with the employer.
If you’d like to hear about our experiences of working closely in partnership with companies to hire the brightest and best for their teams, feel free to contact us via email and phone or check out our other blog posts.
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